US Budget

Budgeting is a vital component of successful governance (Wilson et al., 42). As a presidential advisor, I will consider cutting the following components from the budget. Cutting $17 billion of foreign aid to African countries will be beneficial to the US and African countries.

Eliminate $14 billion farm subsidies because, in the first place, farm subsidies were meant to eliminate poverty. Still, most of the subsidies go to commercial farms that have a net worth of about two million. A 5% reduction pay of civilian federal workers and a 10% reduction of the overall workforce will reduce costs incurred by the country, such as salaries, health insurance, and future retirement benefits.

A $19 billion should be canceled or delayed on weapons programs.  $19 billion should be reduced on the number of nuclear warheads and star wars defense programs. $25 billion should be cut on militaries to Iraq, and troops in Europe and Asia should be reduced.

$8 billion of malpractice verdicts should be reduced, increase $8 billion for Medicare eligibility age to 68, $13 billion increase for the social security retirement age to 67 will reduce healthcare costs

A $50 billion tax on an estate with worth above 1 million, $54 billion end tax cuts for revenue more than $250,000, $172 for revenue below $250,000, and an increase of $50 billion payroll tax for people earning above $106,000 will ensure that there is social equity and reduction of budget deficit (USA).

An increase of $50 billion tax on income above $1 million, and an addition of $41 billion on sales tax, will also ensure that there is social equity and reduction of the budget deficit.

Total gap covered by my budget is $658 billion

Works Cited

 USA, I. US office of management and budget handbook – Adminstrative, management and budgeting strategies. Lulu.com, 2005.

Wilson, J. Q., et al. American government: Institutions and policies. Cengage Learning, 2018.